IMF is nuts (1 Viewer)

[Cajun Mike]

http://blogs.marketwatch.com/electi...gests-u-s-should-adopt-1-33-a-gallon-gas-tax/

Can't say what I think even I can get banned!


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[Cajun Mike]

So I guess everyone is ok with the IMF charging us $1.40/ gal tax


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[billinms]

The IMF can suggest anything it wants, doesn't mean it's going to happen.

 

[efil4stnias]

IMF doesnt make US Domestic Policy....so all it ever will be is a mere suggestion.

 

[NYCsaint]

So I guess everyone is ok with the IMF charging us $1.40/ gal tax


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You should learn about what you are upset about before getting upset. Just my suggestion.

 

[jrdbrn]

I would hope our current administration would be smart enough to not enact such a tax... but I would not be surprised.

 

[Madhattr]

What does the Impossible Missions Force have to do with taxes. I dont think mr phelps would take that one on.

 

[Galbreath34]

TBH, though I'd rather not line either's pockets, I'm pretty sure I get more out of lining the government's pockets than I do the private oil companies. I remember thinking there was no way gas could stay over $2/gallon sustained without crashing the economy terribly when it first broke it around here in 2000 (we're always above the national average by 10% or so), and we did dip back down for a while until 911. I'm used to +/- $4 gallon on premium now. I'd rather a hike on gas where I have a choice than on income tax, and we have money problems.

I doubt that DC looks to the IMF or the UN for guidance, leave that to the whack job black helicopter guys to spread around. Still, in this case, though not my ideal it's not something that'd make me even say "crap" much less say anything that'd get me banned. We pay the lowest gas taxes and lowest prices of pretty much any modern country.

It's not something that would stagger the economy any more than oil company profiteering has. Even if 99% of the taxes were ill spent it'd be 1% more spent on us.

 

[Cajun Mike]

Oh I'm not upset. I was kinda wondering why no one responded. Yeah I know they can only suggest but the gall!


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[Dre]

I know this will get slammed, and I'm not even entirely comfortable saying it with my own (relatively) green views... But with the USA sitting on the largest oil reserves (shale et al), we should be discouraging green energy and finding a way to capitalize on the oil companies' soon to be additional, huge profits instead of making consumers pay more.

 

[billinms]

TBH, though I'd rather not line either's pockets, I'm pretty sure I get more out of lining the government's pockets than I do the private oil companies. I remember thinking there was no way gas could stay over $2/gallon sustained without crashing the economy terribly when it first broke it around here in 2000 (we're always above the national average by 10% or so), and we did dip back down for a while until 911. I'm used to +/- $4 gallon on premium now. I'd rather a hike on gas where I have a choice than on income tax, and we have money problems.

I doubt that DC looks to the IMF or the UN for guidance, leave that to the whack job black helicopter guys to spread around. Still, in this case, though not my ideal it's not something that'd make me even say "crap" much less say anything that'd get me banned. We pay the lowest gas taxes and lowest prices of pretty much any modern country.

It's not something that would stagger the economy any more than oil company profiteering has. Even if 99% of the taxes were ill spent it'd be 1% more spent on us.

I'm in no way defending the oil companies, but you don't think an extra 1.33 over normal prices would be staggering to the country? It would be huge to the small company that I work for, which keeps 8 vehicles on the road and is struggling as it is.

 

[HoustonSaint68]

It's not something that would stagger the economy any more than oil company profiteering has. Even if 99% of the taxes were ill spent it'd be 1% more spent on us.

That sounds nice as a throwaway line but you might have a little more credibility if you did a bit of research to understand the difference between private oil companies and state owned oil companies, the total amount of private oil company profits relative to the total amount of developed country GDP, and the small profit margins on downstream products like gasoline.

Private oil company profiteering as you call it, has nothing to do with "staggering" the economy. And for the record, I was in favor of a carbon tax twenty years ago -- not so much now...

 

[Galbreath34]

I'm in no way defending the oil companies, but you don't think an extra 1.33 over normal prices would be staggering to the country? It would be huge to the small company that I work for, which keeps 8 vehicles on the road and is struggling as it is.

Like I said, when the first spike over $2 hit I thought it'd stagger the economy. We somehow managed to survive gas prices tripling, a net $2.80 increase over 5 years, the sudden snap back, then up again. Intuitively I'd expect it to be crushing, but among the many things debated for our bad economy now gas prices aren't even on the radar.

Gasoline Price History one guy's "useless" data, you can search for the graphs on the national averages.

That sounds nice as a throwaway line but you might have a little more credibility if you did a bit of research to understand the difference between private oil companies and state owned oil companies, the total amount of private oil company profits relative to the total amount of developed country GDP, and the small profit margins on downstream products like gasoline.

Private oil company profiteering as you call it, has nothing to do with "staggering" the economy. And for the record, I was in favor of a carbon tax twenty years ago -- not so much now...

My point was we've now twice endured relatively rapid rises without having the economy "staggered" (I know word I chose, but whatever). I'm 90% certain that if the US were ever to seriously change the tax it'd be phased in over 5-10 years as they usually do, and that would be slower than the "natural" rises we've seen -- whether you see them as profiteering or not. However, as soon as you bring up a similar rise coming from taxation, the debate becomes over the catastrophic effect it will have on the economy when such is usually ignored or relegated to minor status when it's private profit driving the costs.

 

[HoustonSaint68]

However, as soon as you bring up a similar rise coming from taxation, the debate becomes over the catastrophic effect it will have on the economy when such is usually ignored or relegated to minor status when it's private profit driving the costs.

I'm not directly challenging your point regarding the impact of additional tax on the economy -- the devil is in the details so we may or may not agree on that point. My challenge is with statements like "... it's private profit driving the costs.". That is simply not true. Certainly private oil companies are making a lot of profit from it but they simply do not control anywhere near enough of the supply to "drive" the major components of the price (i.e. the price of crude and taxes).

 

[bclemms]

I'm in no way defending the oil companies, but you don't think an extra 1.33 over normal prices would be staggering to the country? It would be huge to the small company that I work for, which keeps 8 vehicles on the road and is struggling as it is.

It would crash the economy faster than they could sign the tax into place. Just the idea of actually going through with the tax and it passing would be enough to crash the economy.

I've been saying it for months now, the economy is on fire and the only way it is going to slow down any time soon is if the politicians get in the way or gas prices break $4/gal.

If you increase gas costs for people driving to work, companies shipping items or relying on outside sales or service and suddenly the price of everything goes up while everyone is making less. It takes away expendable money which slows down all businesses because people aren't buying. There is no way around it.